All Forum Posts by: David Frantz

@Tom Lipps

As @Joseph Cornwell said above, zoning in Hamilton county is dependent on local governments. His example in Deer Park is very similar to a property that I bought and own in Norwood. The auditor typically does not control zoning. In Norwood, that is controlled by the local government. Every property that I buy there, I check the zoning with the Building Department to make sure it matches my expectation. It can be much different than the MLS and the auditor site.

Just a word of caution as an auditor change in designation may not actually reflect a true change in zoning to a two-family.  Don't know the rules in Cheviot but I would recommend calling the local government building department just to be safe

@Jake Walroth Congratulations! Numbers look great. Was the property listed on the MLS or are you marketing?

@Manolo D. thanks for chiming in here.  This job will definitely include work on a second and third floor so that along with the ceilings must be the primary drivers of the higher cost.  The house is knob and tube wiring so thought it would be easier to demo it all.  I may need to rethink that strategy.   I checked the quotes again and insulation was not included.  

@Jake Walroth it's a 7 bedroom place in the campus area.  Cash flow is there  for sure.  Very comfortable with the numbers.  I'll PM you about your contractor.  Thx

Jake,

It is a 2-family in Norwood that i purchased for ~$110k.  Needs a bunch of a work.  My estimate is around 100k with a new roof, two new kitchens, two full baths, new electric, new plumbing stacks, new HVAC system, and drywall.

This is a buy and hold property that will generate a nice cash flow.  Any drywaller recommendations?

I recently joined the REI community and purchased my first investment property a month ago. It needs to be completely gutted. Most of my pre-purchase estimates were close thanks to J Scott's book on estimating rehab costs. One area that I was way off though was on the drywaller costs.

I've received three separate bids for the entire house including ceilings and walls with the prices ranging from 13.5k to 17k. At around 250 sheets hung and finished, that equates to between $54-$68.

Anybody able to recommend an investor friendly drywalling company in Cincinnati?

Thanks in advance

David